AO World [LSE: AO]
There’s a trading statement out from white goods retailer AO World this morning and unlike many others in the sector, it’s very much a case of steady as she goes. Whilst acknowledging that the market remains competitive, UK revenues are up 8% whilst continental Europe saw growth of 55%. Full year revenue numbers are therefore tipped to come in slightly above the mid-point of analyst expectations – the backdrop may remain challenging, but the progress in Europe is certainly providing some good diversification.
EasyJet [LSE: EZJ]
EasyJet has published a passenger update for March this morning, showing a 3.4% uplift in traffic for the month compared to a year ago. Load factors also advanced, although at 93.4%, it’s still some way short of competitor Ryanair’s 95%. Maximising the load factor essentially equates to free money, as the plane is flying anyway. The numbers are perhaps even more impressive if the slew of cancellations for the month is taken into account. Over 1,000 flights were dropped because of bad weather, whilst more than 200 were cancelled in the wake of air traffic control strikes in Italy and France.
Big Yellow Group [LSE: BYG]
Rounding off a fairly quiet morning is a development update from the storage group Big Yellow. They’ve been given the green light to build a 72,000 sq ft facility in Camberwell, London, plus the acquisition of a 55,000 sq ft site in Uxbridge, London. The latter seems the bigger deal, as the area is apparently underserved by storage facilities and the catchment area isn’t currently served by the company. Hardly earth shattering, but underlying growth in this market shows another destination for consumers’ cash.